Bamco Inc. NY Takes Position in Transcat, Inc. $TRNS

Key Points

• Bamco Inc. NY acquired 190,243 Transcat shares worth approximately $17.6 million, giving it a 2.03% stake. Institutional investors collectively own 98.34% of the company.
• Transcat beat quarterly expectations, reporting $0.51 in earnings per share versus the $0.38 consensus and revenue of $92.95 million versus $86.55 million expected.
• Despite the earnings beat, analyst sentiment remains cautious: the stock carries an average “Reduce” rating and a $95 consensus price target, while shares recently traded at $89.87.

Bamco Inc. NY acquired a new position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 190,243 shares of the scientific and technical instruments company's stock, valued at approximately $17,649,000. Bamco Inc. NY owned approximately 2.03% of Transcat at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Persistent Asset Partners Ltd purchased a new stake in Transcat in the second quarter worth approximately $52,000. Lazard Asset Management LLC bought a new stake in Transcat during the second quarter worth about $54,000. Tower Research Capital LLC TRC grew its holdings in Transcat by 245.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock worth $97,000 after purchasing an additional 798 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Transcat in the second quarter worth about $204,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Transcat during the second quarter valued at approximately $226,000. 98.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Christopher P. Gillette sold 504 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $94.23, for a total value of $47,491.92. Following the sale, the director directly owned 200 shares in the company, valued at approximately $18,846. The trade was a 71.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig D. Cairns bought 1,050 shares of the stock in a transaction dated Thursday, August 6th. The shares were purchased at an average price of $93.97 per share, with a total value of $98,668.50. Following the completion of the transaction, the director directly owned 1,480 shares in the company, valued at approximately $139,075.60. The trade was a 244.19% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.80% of the company's stock.

Transcat Trading Up 0.2%

TRNS stock opened at $89.87 on Friday. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $100.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.49 and a quick ratio of 2.11. The company has a market capitalization of $841.18 million, a price-to-earnings ratio of 242.89 and a beta of 0.68. The business has a 50 day simple moving average of $90.04 and a two-hundred day simple moving average of $82.49.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.13. The company had revenue of $92.95 million during the quarter, compared to analysts' expectations of $86.55 million. Transcat had a net margin of 0.99% and a return on equity of 5.56%. Research analysts anticipate that Transcat, Inc. will post 1.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRNS. Weiss Ratings restated a "sell (d+)" rating on shares of Transcat in a research note on Tuesday. Northland Securities cut Transcat from an "outperform" rating to a "market perform" rating and set a $95.00 price objective for the company. in a research note on Wednesday, August 5th. Wall Street Zen raised Transcat from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Finally, Zacks Research raised Transcat from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Transcat currently has an average rating of "Reduce" and a consensus price target of $95.00.

Transcat Profile

Transcat, Inc NASDAQ: TRNS is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.

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